Flagright, an AI operating system for financial crime compliance, raised $12.5 million in Series A funding led by Infinity Ventures and participation by Sella Bank and continued funding from Frontline and Y Combinator, according to a news release.
The funding will be used to expand explainable AI use cases across compliance operations and increase the US market presence of Flagright, the company said.
“This round helps us accelerate our position as the enterprise standard for financial crime compliance by expanding explainable AI use cases across compliance operations and increasing our US market presence, while we continue serving sophisticated clients with the reliability and depth they expect from a mission critical software,” Baran Ozkan, co-founder and CEO of Flagright, said in the news release.
